Satori Resources Drills Longest and Highest Grade Interval at South Zone Averaging 9.59 g/t Au over 11.75 Metres

2021-10-07 05:09:32

Interval within a mineralized envelope grading 4.76 g/t over 27.8m

Toronto, Ontario–(Newsfile Corp. – October 7, 2021) – Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) is pleased to report results from the first hole (TLSZ21-05) drilled in the Company’s Phase II drilling campaign, targeting a separate location, the South Zone, at Satori’s 100% owned Tartan Lake Project, Flin Flon, Manitoba. The results suggest continuous gold mineralization within the deposit area, and hole TLSZ21-05 is the longest high-grade intercept returned to date from the South Zone. This hole is the fifth diamond drill hole of Satori’s 2021 drilling campaign, and is proximal to the underground ramp/decline. Previous holes reported targeted the Main Zone mineralization, 200 metres to the northwest (Ref. Figure 2).

  • TLSZ21-05 is the longest and highest grade interval ever reported from the South Zone deposit;
  • Quartz-carbonate-tourmaline veining assayed 9.59 g/t Au over 11.75 metres;
  • Mineralized Intersection included 24.23 g/t Au over 2.00 metres and 13.05 g/t Au over 3.29 metres; and
  • Mineralization remains open at depth along plunge.

TLSZ21-05 was the first hole drilled at the South Zone during Satori’s 3000 metre Phase II 2021 drilling campaign. Drilling targeted the interpreted steep westerly plunge to the high grade mineralization (Ref. Figure 1).

Figure 1 – South Zone Long Section showing grade distribution and location of Hole TLSZ21-05

This hole intersected mineralization at a depth of approximately 150 metres from surface, 100 metres south of the existing underground decline (ramp) established in the 1980’s. The South Zone mineralization strikes east-west with a sub-vertical dip, essentially parallel to the Main Zone mineralization located approximately 200 metres to the northwest. The Main Zone high grade mineralization plunges steeply to the west and this initial hole at the South Zone suggests that the South Zone mineralization has the same orientation.

Results are summarized in Table 1.0 and in Figure 1.0 below.

Table 1.0 – TLSZ21-05 Results







Hole ID   From (m) To (m) Interval (m)(1) Au (g/t)
TLSZ21-05   190.30 21810 27.80 4.76
Including   194.00 210.75 16.75 7.48
    198.00 209.75 11.75 9.59
  Including 198.00 200.00 2.00 24.23
  and 206.46 209.75 3.29 13.05

(1) Interval is measured down hole and does not reflect true width.
There is insufficient information to estimate true width at this time.

Jennifer Boyle, Chief Executive Officer commented, “These are excellent results for Satori and provides reliable insight into the potential scale that may be realized on the project. The Tartan Lake Gold Mine Project ceased production in 1989, not because the ore was depleted; the price of gold fell below $390 per ounce. For the first time in decades this project is benefitting from a new team applying modern day techniques in a robust gold environment. The entire project area has been overlooked for decades and is sparsely-drilled. This intercept has exceeded our expectations and illustrates the expansive potential for Tartan Lake.”

Wes Hanson, P. Geo., and a Director of Satori, states, “We couldn’t be more pleased with the results of TLSZ21-05. It’s always exciting when the initial hole, testing a revised interpretation on the controls on mineralization, returns the highest value intercept to date from a population of over 100 historical drill holes. The South Zone represents a second opportunity to increase the mineral resource of the project, with both the Main Zone and the South Zone being accessible to the existing underground infrastructure. Once additional results are received, we will evaluate our targeting and plan follow up holes to continue to demonstrate potential to increase the mineral resource.”

SOUTH ZONE INTERSECTION

TLSZ21-05 targeted an interpreted steep, westerly plunge line, sub-parallel to what Satori has successfully demonstrated at depth at the Main Zone. The mineralization was intersected at a depth of 150 metres from surface and lies 100 metres south of the existing underground ramp/decline. The target is open at depth along an interpreted 125-150-metre strike length.

The South Zone intersection encountered in Hole TLSZ21-05 is well foliated and shows intense shearing within deformed-crenulated gabbroic rock. There is pervasive ankerite with abundant quartz-carbonate-tourmaline-albite veining, from 190.3 to 219.1 metres down hole. Alteration within the South Zone includes fuchsite, tourmaline and iron carbonate. Sulphide mineralization is dominated by disseminated and blebby pyrite with minor chalcopyrite.

Junior Mining NetworkFigure 2.0 – Surface Location Map 

Junior Mining NetworkFigure 3.0 – TLSZ21-05 Core from 180.66 metres to 202.74 metres

Junior Mining NetworkFigure 4.0 – TLSZ21-05 Core from 202.74 metres to 215.45 metres

FALL 2021 FIELD PROGRAM

All Phase II drilling at the South Zone and the Main Zone has been completed, and the drill remains on site pending results of holes completed along plunge at both the South Zone and the Main Zone. Satori has initiated reconnaissance mapping and sampling of prioritized targets elsewhere within the claim group, many of which have seen limited work to date. Desk-top compilation work carried out in 2020 and enhanced geophysical evaluations have presented a number of new opportunities for potential discovery and resource growth.

SAMPLING, QUALITY ASSURANCE AND QUALITY CONTROL

All diamond drill holes are NQ diameter (47.6 mm). Drill core is delivered to a secure logging facility at site where it is photographed, logged for geotechnical and geological data and marked up for splitting. Most samples are collected on 1.0 metre intervals, honouring litho-structural contacts with a minimum sample length of 0.3 metres and a maximum sample length of 1.5 metres. All logging, sampling and splitting is performed under the supervision of the P.Geo. managing the drill program. After logging and sample mark up, the core is split with one half of the core sent for analysis and the remaining half stored at site for future reference. Certified Reference Materials and Blanks are inserted into the sample stream at a rate of one blank and one certified standard for every twenty samples.

Samples are shipped in sealed containers to TSL Laboratories in Saskatoon, Saskatchewan for analyses. All samples are analyzed for gold using a 30 gram lead collection fire assay fusion with an atomic adsorption finish. In addition, certain selected samples are assayed using a 36 element multi-acid ICP-ES analysis method. Samples corresponding with any observed visible gold during logging are flagged for Metallic Screen analysis, as are any samples assaying greater than 5.0 g/t Au. All Quality Control results, including the laboratory’s own control samples, are evaluated before public release.

Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.

ABOUT SATORI RESOURCES INC. (TSXV: BUD)

Satori is a Toronto-based mineral exploration and development company whose primary property is the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba. Satori also holds a 100% interest in the New Delhi Project, an advanced polymetallic gold project in the Sudbury Mining District, Ontario.

The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989); which produced 36,000 ounces of gold from 250,000 tonnes of ore feed. Remaining infrastructure includes: all season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Mineralization at the mine is currently drill limited and open at depth.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jennifer Boyle, B.A., LL.B.
President and Chief Executive Officer
Satori Resources Inc.
(416) 904-2714
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Mr. Pete Shippen
Chair, Satori Resources Inc.
(416) 930-7711
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of Satori contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

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